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Amid reports of the United States dropping the H-1B visa proposal, the Indo-American Chamber of Commerce (IACC) while welcoming the same said the move would reduce the panic induced in those possessing short-term work permits.
"In a dynamic economic engagement, there can be many challenges and "wish lists" that may have to be addressed. I am sure whatever bilateral issues that are waiting to be resolved will merit the active consideration of both the administrations. This assurance by the US authorities should put to rest all speculations and rumors that caused panic in the minds of people having short-term work permits," said Vasant Subramanyan, National President of the IACC.
He further opined that unprecedented cordial and diplomatic relationship between India and the US, two of the largest and oldest democracies in the world, can address many issues and find amicable solutions in a spirit of "give and take".
"In the last few years, the bilateral economic relations between the two countries have been at its best.
Trade has increased. Investments have picked up substantially both in terms of quantum and quality. Technical hand-holdings are its record high. Yet, these positive developments may become obscure when irritants and challenges crop up, such as the H1-B visa or any other issue that may have to be addressed by the political administrations, which have to take a balanced view in a dispensation where politics and economics cannot be segregated all the times," said Vasant.
Speculations regarding the enforcement of the "Buy American, Hire American" executive order signed by US President Trump in April have been looming in the recent past, with H-1B visa being the key tool.
Earlier in December, the Donald Trump-led US administration announced a proposal to revoke a rule that makes spouses of thousands of immigrant workers eligible to work while in the US.
The spouses of H-1B, or high-skilled, visa holders waiting for green cards have been eligible to work in the US on H-4 dependent visas, under a ruling introduced by former president Barack Obama's administration in 2015.
However, this move is expected to potentially complicate a major driver of technology jobs.
Meanwhile, reports suggest that the US immigration officials have clarified that they are not contemplating any regulatory changes that would compel the H1-B visa holders to leave the country after the permissible six year limit.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)